UAE merges insurance authority with central bank: Dubai ruler tweet

Reuters , Saturday 24 Oct 2020

Central Bank of the UAE REUTERS

The United Arab Emirates has taken a decision to merge the Insurance Authority with the central bank, Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum said on Saturday.

The decision also transfers all operational and executive powers of the Securities and Commodities Authority to the local stock markets, while the SCA maintains regulation and oversight of the local financial markets, Sheikh Mohammed said in a tweet.

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